How to Leverage Building Permits to Find Off-Market Deals
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How to Leverage Building Permits to Find Off-Market Deals
In the competitive U.S. real estate market, off-market deals are the hidden gems that savvy investors are always hunting for. One of the most effective, yet often overlooked, strategies for finding these opportunities is using building permit data. By tracking permits, investors can get a jump on properties that haven’t hit the open market yet but show signs of potential activity.
How Building Permits Lead to Off-Market Deals:
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Renovations in Progress: Homeowners pulling permits for major renovations or additions may be preparing to sell their property once the work is complete. Reaching out during this phase can give you the edge before it’s listed.
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Properties Needing Repairs: Permits for repairs—especially repeated or major ones—can signal distressed properties or owners dealing with financial difficulties. These owners might be open to selling before sinking more money into repairs.
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Code Violations: When a property has a code violation and a permit is issued for necessary fixes, it often means the owner is facing regulatory pressure. This creates an opportunity for investors to approach and negotiate before the property is officially listed.
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Stalled Projects: Permits for construction or renovations that are issued but not completed may indicate that the owner has run out of resources. These are ideal situations for investors looking to swoop in and strike a deal.
Why It Works:
Building permit data gives you early access to information that most buyers overlook. By targeting properties before they go on the market, you avoid the bidding wars and competition typical in a public sale. For investors looking to secure deals in a hot market, this method offers a valuable edge.
For more insights on how to use building permit data to uncover off-market deals, visit www.realsupermarket.com.
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